ProFund Registers for ETF Series

Pending SEC approval, the funds would be the first ETFs
to offer investors leveraged or short exposure to index
benchmarks.

Each of the new ETFs will seek daily investment results,
before fees and expenses, which correspond to the daily
performance of a specified benchmark.

Bulls and Bears

The series consists of four bullish funds and four
bearish ones. The former, designed to profit when their
index rises and provide twice the daily performance of
their benchmarks, are:

Ultra500, which tracks the S&P 500

Ultra100, which follows Nasdaq-100 Index

Ultra30, which tracks the Dow Jones Industrial
Average, and

Ultra400, which shadows the S&P MidCap 400

The remaining four funds, seeking to profit when the
specified index declines and provide double the inverse of
the daily performance of the index, are:

UltraShort500, which corresponds with the S&P
500

UltraShort100, which moves with the Nasdaq-100

UltraShort30, which follows the Dow Jones Industrial
Average,

UltraShort400, which tracks the S&P MidCap
400

Red Tape

In addition to the registration statement, ProFund
Advisors applied to the SEC for exemption from several
provisions of the Investment Company Act of 1940. The
offering of the ETFs managed by ProFund Advisors is
contingent upon this approval, and the SEC declaring the
registration statement effective.

While index-based ETFs have been available in the US
market since 1992, according to a release from the company,
the ETFs managed by ProFund would be the first with an
objective other than that of approximating the performance
of a specified index.